Archive for the ‘Securities’ Category
Monday, March 8th, 2010
(DALLAS) Kendall Law Group launched a shareholder investigation into infoGROUP, Inc. (NASDAQ: IUSA) in connection with its plan to sell the company to CCMP Capital Advisors. The national securities firm is concerned that the infoGROUP Board of Directors breached their fiduciary duties by failing to seek other deals to better represent the value of the company before entering into an agreement that is potentially unfair to shareholders and represents no premium for shareholders. If you are an IUSA shareholder and would like additional information about your rights, you are encouraged to contact the Kendall Law Group at 877-744-3728 or by email at hlindley@kendalllawgroup.com.
On March 8, 2010, the companies announced that they had entered into an agreement for infoGROUP to be acquired by CCMP in a $635 million transaction, including the refinancing of the outstanding debt acquired by infoGROUP. According to the agreement, shareholders will receive $8.00 in cash for each IUSA share that they hold, which represents a $0.16 decrease in stock value from the closing price on the last trading day before the announcement. The transaction is expected to close early this summer.
Kendall Law Group, founded by a former federal judge, has been counsel in dozens of merger and acquisition cases nationwide, including some of the largest transactions in the United States. The firm includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. Protect your rights as an IUSA shareholder by calling the firm.
Tags: acquisition, CCMP, CCMP Capital Advisors, infoGROUP Inc, investigation, IUSA, Kendall Law Group, NASDAQ: IUSA, shareholder
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Friday, March 5th, 2010
Kendall Law Group, a national shareholder rights law firm, is investigating certain officers and directors of Pride International, Inc. (NYSE: PDE) for possible breaches of fiduciary duty and other state laws concerning public statements made by the Company in connection with expected settlements with the federal government. If you currently hold PDE stock purchased prior to 2006, you are encouraged to contact the firm by telephone at 877-744-3728 or by email at hlindley@kendalllawgroup.com.
On February 16, 2010, Pride International announced a $56.2 million accrual in the fourth quarter of 2009. The Company indicated that this accrual is their best estimate of potential fines, penalties and disgorgement related to expected settlements with the DOJ and the SEC. These settlements are in connection to the investigation by the DOJ and SEC for allegations of improper payments to foreign government officials in violation of the U.S. Foreign Corrupt Practices Act.
Kendall Law Group is led by a former federal judge experienced in recovering millions for defrauded shareholders. The firm includes a former United States Attorney, state judge, prosecutors, and securities lawyers who are experienced in complex securities litigation. Contact a firm with substantial experience representing investors in securities lawsuits nationwide for advice on your rights as a PDE shareholder.
Tags: investigation, Kendall Law Group, NYSE: PDE, PDE, Pride International Inc., shareholder
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Thursday, March 4th, 2010
(DALLAS) Kendall Law Group, a national shareholder rights law firm, launched an investigation into Novell Inc. (NASDAQ: NOVL) in connection with the proposed acquisition by Elliott Associates, L.P. The firm is concerned that the Board of Directors of Novell may breach their fiduciary duties by failing to seek other deals to better represent the value of the company if they agree to this proposal. If you are a Novell shareholder, we encourage you to contact the Kendall Law Group at 877-744-3728 or by email at hlindley@kendalllawgroup.com to discuss your personal circumstances.
On March 2, 2010, media reports indicated that Elliott Associates offered to purchase Novell in a $2 million transaction. The proposal offers $5.75 in cash per NOVL share owned, which represents a 21% premium over the $4.75 closing price on March 2, 2010. Analyst Richard Williams indicated that the “deal price is on the low side compared to recent deals that were transacted in the enterprise software space.” He also stated that he expects to see higher bid prices from rival companies. Investors may have significant recourse against the Board of Directors if they are found to have breached their fiduciary duties.
Kendall Law Group, founded by a former federal judge, has been counsel in many merger and acquisition cases nationwide, including some of the largest transactions in the United States. The firm includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. Protect your rights as a Novell shareholder by calling the firm.
Tags: acquisition, Elliott Associates LP, investigation, Kendall Law Group, NASDAQ: NOVL, Novell, NOVL, shareholder
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Wednesday, March 3rd, 2010
(DALLAS) Kendall Law Group launched a shareholder investigation into RiskMetrics Group Inc. (NYSE: RISK) in connection with its plan to sell the company to MSCI Inc. The national securities firm is concerned that the Board of Directors of RiskMetrics breached their fiduciary duties by failing to seek other deals to better represent the value of the company before entering into an agreement that is unfair to shareholders. If you are a RISK shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at hlindley@kendalllawgroup.com.
On March 1, 2010, the companies announced that they had entered into an agreement for RiskMetrics to be acquired by MSCI in a $1.5 billion transaction. According to the agreement, shareholders will receive $16.35 in cash and 0.1802 MSCI stock, valuing RISK shares at $21.75 per share. This represents a 17% premium over the $18.63 closing price of RISK on February 26, 2010. The transaction is expected to close late spring or early summer 2010.
Kendall Law Group, founded by former federal judge Joe Kendall, has been counsel in dozens of merger and acquisition cases nationwide, including some of the largest transactions in the United States. The firm includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. Protect your rights as a RISK shareholder by calling the firm.
Tags: acquisition, investigation, Kendall Law Group, Merger, MSCI, NYSE:RISK, RISK, RiskMetrics, sale, Securities, shareholder
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Wednesday, March 3rd, 2010
(DALLAS) Kendall Law Group investigates Millipore Corporation (NYSE:MIL) for investors concerning the proposed acquisition of Millipore by Merck KGaA. The national securities firm is concerned that the Board of Directors of Millipore may have breached their fiduciary duties by entering into an agreement that is unfair to shareholders, without seeking other deals that may have better represented the value of the company. If you are a MIL shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at hlindley@kendalllawgroup.com.
On February 28, 2010, the companies announced that they had entered into an agreement for Millipore to be acquired by Merck in a $7.2 billion transaction. According to the agreement, shareholders will receive $107.00 in cash per MIL share owned, only 13% over the $94.41 closing price before the deal was announced. The transaction is expected to close during the second half of 2010.
Kendall Law Group, founded by former federal judge Joe Kendall, has been counsel in dozens of merger and acquisition cases nationwide, including some of the largest transactions in the United States. The firm includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. Protect your rights as a MIL shareholder by calling the firm.
Tags: acquisition, investigation, Kendall Law Group, Lawsuit, Merck, Merger, Millipore, Millipore Corporation, NYSE:MIL, sale, Securities
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Wednesday, March 3rd, 2010
(DALLAS) Kendall Law Group announced today that it plans to join a lawsuit on behalf of shareholders of Smithtown Bancorp, Inc. (NASDAQ: SMTB) alleging securities violations by Smithtown and certain of its officers for failure to disclose adverse facts about the financial condition, business and prospects of the Company affecting stock purchased between March 13, 2008 and February 1, 2010.
Any shareholder who purchased SMTB stock during this time period may move the Court to serve as a plaintiff in this class action. If you wish to serve as lead plaintiff, you must move the Court for appointment by April 26, 2010. A lead plaintiff is a class member who acts on behalf of other class members in directing the litigation. Your ability to share in any recovery is not, affected by the decision to serve as a lead plaintiff. If you wish to learn more about your rights as a shareholder or have information concerning this action, contact attorney Hamilton Lindley at 877-744-3728 or hlindley@kendalllawgroup.com.
The lawsuit alleges that Defendants understated the loan loss reserves and failed to state certain assets at their true fair value, causing Smithtown’s financial results to be artificially inflated. Smithtown was able to inflate its reported income and asset quality by improperly delaying the recognition of their assets. The complaint also alleges deficient internal and disclosure controls and unsafe banking practices.
Smithtown issued a press release on February 1, 2010, announcing its fourth quarter and full year 2009 results. The Company reported a loss of $19.8 million for the first quarter of 2009. On this news, SMTB stock prices fell 15%, closing at $4.60 per share on heavy trade volume.
Kendall Law Group is a national securities firm that gives shareholders power when big businesses break the law. Led by a former federal judge and former U.S. Attorney, Kendall Law Group has the credentials to pursue any type of complex securities litigation in the nation. Shareholders who purchased ABC common stock during the relevant period may have a claim against the company and should contact attorney Hamilton Lindley for more information:
Tags: class action, investigation, Kendall Law Group, Lawsuit, NASDAQ:SMTB, Securities, shareholder, Smithtown, Smithtown Bancorp, SMTB
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Wednesday, March 3rd, 2010
Kendall Law Group, a national leader in securities litigation, announces its investigation into the business practices of athenahealth, Inc. (NASDAQ:ATHN) and potential violations of the securities laws. If you purchased ATHN stock and suffered a loss, contact Hamilton Lindley at 877-744-3728 or by email at hlindley@kendalllawgroup.com to learn more about your rights are a shareholder.
On February 25, 2010, athenahealth announced the need to postpone the release of the financial results for the fourth quarter of 2009 and the full year 2009, in order to conduct an internal accounting policy review and determine whether the period of amortization for deferred implementation revenue should be extended to a longer expected performance period. The statement indicates that if this change is necessary, the Company would also restate the financial statements for the prior year. On this news, shares dropped 15% to close at $36.84 per share on February 26, 2010.
Kendall Law Group is led by a former federal judge experienced in recovering millions for defrauded shareholders. The firm includes a former United States Attorney, state judge, prosecutors, and securities lawyers who are experienced in complex securities litigation. Contact a firm with substantial experience representing investors in securities lawsuits nationwide for advice on your rights as an ATHN shareholder.
Tags: athena, athenahealth, ATHN, investigation, Kendall Law Group, Lawsuit, litigation, NASDAQ:ATHN, Securities, shareholder
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Wednesday, March 3rd, 2010
(DALLAS) Kendall Law Group is investigating CKE Restaurants, Inc. (NYSE: CKR) for shareholders in connection to the proposed sale of the Company to Thomas H. Lee Partners. The national securities litigation firm is investigating whether CKE properly shopped the Company prior to entering into the agreement. This possible breach of fiduciary duty may have kept the Company from reaching a deal that would provide better value of the Company. If you are a CKR shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at hlindley@kendalllawgroup.com.
On February 26, 2010, the Companies announced that they had entered into an agreement for CKE to be acquired by Thomas H. Lee in a $928 million transaction (including assumption of $309 million in debt). According to the agreement, shareholders will receive $11.05 in cash per CKR share owned, which represents a 24% premium over the closing price on the day before the announcement.
Kendall Law Group is founded by a former federal judge, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. The firm has been counsel in dozens of merger and acquisition cases nationwide, including some of the largest transactions in the United States.
Tags: acquisition, CKE, CKE Restaurants, CKR, investigation, Kendall Law Group, Lawsuit, Merger, NYSE: CKR, sale, shareholder, Thomas H. Lee, Thomas Lee
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Wednesday, March 3rd, 2010
(DALLAS) Kendall Law Group is investigating Bowne & Co., Inc. (NYSE:BNE) for shareholders in connection to the proposed sale of the Company to R.R. Donnelley & Sons. The national securities litigation firm is investigating whether Bowne properly shopped the Company prior to entering into the agreement. This possible breach of fiduciary duty may have kept Bowne from reaching deal that would provide better compensation to shareholders. If you are a BNE shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at hlindley@kendalllawgroup.com.
On February 24, 2010, the Companies announced that they had entered into an agreement for R.R. Donnelley to acquire Bowne in a $481 million transaction expected to close in the second half of 2010. According to the agreement, shareholders will receive $11.50 in cash per BNE share owned.
Kendall Law Group has been counsel in dozens of merger and acquisition cases nationwide, including some of the largest transactions in the United States. The firm is founded by a former federal judge, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation.
Tags: acquisition, BNE, Bowne, Bowne & Co., investigation, Kendall Law Group, Lawsuit, Merger, NYSE:BNE, R.R. Donnelley, sale, Securities, shareholder
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Tuesday, February 23rd, 2010
(DALLAS) Kendall Law Group is investigating Smith International Inc. (NYSE:SII) for investors concerning the proposed acquisition of Smith by Schlumberger Ltd. The firm is investigating whether the Smith Board of Directors may have breached its fiduciary duties by entering into an agreement that is unfair to shareholders, without seeking other deals that may have better represented the value of the company. If you have relevant information or are an SII shareholder, contact the Kendall Law Group at 877-744-3728 or by email at hlindley@kendalllawgroup.com.
On February 21, 2010, the companies announced that they had entered into an agreement for Smith to be acquired by Schlumberger in an $11.01 billion all-stock transaction. According to the agreement, shareholders will receive 0.6966 in SLB stock per SII share owned. This values SII shares at $44.51, based on the closing price of Schlumberger on the last trading day before the announcement, which represents an 18% premium over the $37.70 closing price of Smith on February 19. The transaction is expected to close in the latter half of 2010.
Kendall Law Group, founded by former federal judge Joe Kendall, has been counsel in dozens of merger and acquisition cases nationwide, including some of the largest transactions in the United States. The firm includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. Protect your rights as an SII shareholder by calling Kendall Law Group.
Tags: acquisition, Investigiation, Kendall Law Group, NYSE:SII, Schlumberger Ltd, shareholder, SII, Smith International Inc
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Friday, February 19th, 2010
(DALLAS) Kendall Law Group, a national securities litigation firm, is investigating Zenith National Insurance Corp. (NYSE:ZNT) for shareholders. The firm is investigating whether Zenith properly shopped the Company prior to entering into an agreement to sell the Company to Fairfax Financial Holdings Limited. This possible breach of fiduciary duty may have kept Zenith from reaching deal that would provide better compensation to shareholders. If you are a ZNT shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at hlindley@kendalllawgroup.com.
On February 18, 2010, the Companies announced that they had entered into an agreement for Fairfax to acquire Zenith in a $1.4 billion transaction expected to close before the end of the second quarter 2010. According to the agreement, shareholders will receive $38.00 in cash per ZNT share owned, which represents a 31.4% premium over the closing price of Zenith on the 17th.
Kendall Law Group has been counsel in dozens of merger and acquisition cases nationwide, including some of the largest transactions in the United States. The firm is founded by a former federal judge, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation.
Tags: investigation, Kendall Law Group, Merger, NYSE:ZNT, shareholder, Zenith, Zenith National Insurance Corp, ZNT
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Friday, February 19th, 2010
(DALLAS) Kendall Law Group, a national securities litigation firm, is investigating the merger of Portec Rail Products, Inc. (NASDAQ:PRPX) with L.B. Foster Company. The firm is investigating whether Portec’s Board of Directors may have breached their fiduciary duties by entering into an agreement without seeking other deals that may have better represented the value of the company. If you are a PRPX shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at hlindley@kendalllawgroup.com.
On February 17, 2010, Portec and L.B. Foster announced that they had entered into an agreement for L.B. Foster to acquire Portec in a transaction expected to close before the end of the second quarter 2010. According to the agreement, shareholders will receive $11.71 in cash per PRPX share owned. This represents only 4% premium over the $11.23 closing price on February 16th before the deal was announced.
Kendall Law Group, founded by a former federal judge, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. The firm has been counsel in dozens of merger and acquisition cases nationwide, including some of the largest transactions in the United States.
Tags: investigation, Kendall Law Group, Merger, NASDAQ:PRPX, Portec Rail Products Inc, PRPX, shareholder
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Wednesday, February 17th, 2010
(DALLAS) Kendall Law Group investigates Terra Industries Inc. (NYSE:TRA) for investors concerning the proposed acquisition of Terra by Yara International ASA. The Board of Directors of Terra may have breached their fiduciary duties by entering into an agreement that is unfair to shareholders, without seeking other deals that may have better represented the value of the company. If you are a TRA shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at hlindley@kendalllawgroup.com.
On February 15, 2010, Terra Industries announced that they had entered into an agreement to be acquired by Yara International in a $4.1 billion transaction. According to the agreement, shareholders will receive $41.10 in cash per TRA share owned, only 24% over the $33.25 closing price before the deal was announced. TRA common stock closed at $43.12 as recently as December 10, 2009. Due to the $123 million termination fee, it is unlikely that Terra will continue to seek other options.
Kendall Law Group, founded by former federal judge Joe Kendall, has been counsel in dozens of merger and acquisition cases nationwide, including some of the largest transactions in the United States. The firm includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. Protect your rights as a TRA shareholder by calling the firm.
Tags: acquisition, Buyout, investigation, Investment, Kendall Law Group, NYSE:TRA, shareholder, Terra Industries, Terra Industries Inc, TRA, Yara International ASA
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Tuesday, February 16th, 2010
(DALLAS) Kendall Law Group, an experienced securities law firm, is investigating the proposed buyout of Allegheny Energy, Inc. (NYSE: AYE) for shareholders. The investigation concerns possible breaches of fiduciary duty by directors and officers in connection with the proposed acquisition of Allegheny, by FirstEnergy Corp. If you are a shareholder of AYE and would like additional information, contact Scott Kendall at 877-744-3728 or by email at skendall@kendalllawgroup.com.
Under the terms of the buyout, Allegheny shareholders would receive .0667 of FirstEnergy stock per share of Allegheny owned. This purports to be a 32 percent premium for Allegheny shareholders placing the value around $27.65 per share. The law firm’s investigation seeks to determine whether the consideration to be paid is substantially below the fair or inherent value of the Company, grossly unfair, and inadequate with regard to the sale process, and whether the deal is in the best interest of the shareholders.
The New York Times has reported FirstEnergy’s justification for the deal relies on its estimate of $350 million in cost savings over a two year period. However, using a present value basis analysis, the Times reports those savings may be worth around $2 billion. The Times report claims the cost savings amount nearly doubles the equity premium being offered to Allegheny shareholders.
Kendall Law Group, founded by former federal judge Joe Kendall, routinely fights for shareholders in unfair mergers nationwide. If you have information to contribute to the investigation or would like more information about your rights as an Allegheny shareholder – contact Kendall Law Group.
Tags: acquisition, Allegheny, Allegheny Energy Inc, AYE, Buyout, FirstEnergy Corp, Investigation Kendall Law Group, NYSE: AYE, shareholder
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Thursday, February 11th, 2010
(DALLAS) Shareholders who have suffered a loss in Toyota Motor Corporation (NYSE:TM) American Depository Shares are encouraged to contact Kendall Law Group regarding a class action filed in the Central District of California. The complaint alleges violations of the securities laws affecting stock purchased between August 4, 2009 and February 2, 2010. To contribute information or for advice on your rights as a shareholder, contact a firm with substantial experience representing investors in securities lawsuits nationwide at 877-744-3728 or by email at hlindley@kendalllawgroup.com.
Shareholders who purchased American Depository Shares of Toyota during this time period may move the Court to serve as a plaintiff in this class action. If you wish to serve as lead plaintiff, you must move the Court for appointment by April 9, 2010. A lead plaintiff acts on behalf of other class members in directing the litigation. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff. Any member of the class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
On February 8, 2010, a class action complaint was filed alleging that Toyota, certain affiliates and certain officers and directors misled investors when they failed a major design defect in the acceleration system in several models of their vehicles. Due to the false and misleading statements, Toyota stock traded at artificially inflated prices during the relevant period.
Toyota announced on January 21, 2010 that it would be recalling 2.3 million vehicles in North America due to problems with the accelerator pedal sticking. After the market closed on February 2, 2010 Toyota reported a 16% drop in sales for January 2010 due to the recall and suspension of sales of the most popular models. Before the market opened on the 3rd, Toyota announced that there were reports of brake problems in the 2010 Prius hybrid. In response to this news, Toyota American Depository Shares dropped $4.69 per share, and Toyota common stock fell 6%.
Kendall Law Group, a national securities firm that gives shareholders power when big businesses break the law, includes a former state and federal judge, a former United States Attorney, and experienced securities lawyers.
Tags: class action, Kendall Law Group, Lawsuit, NYSE:TM, shareholder, TM, Toyota, Toyota Motor Corporation
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Wednesday, February 10th, 2010
(DALLAS) Shareholders who suffered losses in Nokia Corporation (NYSE:NOK) American Depository Shares are encouraged to contact Kendall Law Group regarding a class action filed in the Southern District of New York. The complaint alleges violations of the securities laws affecting stock purchased between January 24, 2008 and September 5, 2008. To contribute information or for advice on your rights as a shareholder, contact a firm with substantial experience representing investors in securities lawsuits nationwide at 877-744-3728 or by email at hlindley@kendalllawgroup.com.
If you purchased American Depository Shares of Nokia during this time period, you may move the Court to serve as a plaintiff in this class action. If you wish to serve as lead plaintiff, you must move the Court for appointment by April 6, 2010. A lead plaintiff acts on behalf of other class members in directing the litigation. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff. Any member of the class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
On February 5, 2010, a class action complaint was filed alleging that Nokia and certain officers and executives issued positive statements about new product launches without reasonable basis, due to supply shortages and manufacturing problems. The complaint also alleges that Nokia was losing market share due to intense price cuts by competitors. The complaint further alleges that Nokia slashed their average selling price to maintain its market share due to severe price competition, stating that they expected the overall industry average selling price to decline in 2008.
On September 5, 2008, Nokia announced its first quarter 2008 outlook for its mobile device market share. Later that day, the company stated in a conference call that there was a production glitch with a mid-range device and aggressive price cuts by some rivals. On this news, Nokia American Depository Shares dropped approximately 8%.
Kendall Law Group, a national securities firm that gives shareholders power when big businesses break the law, includes a former state and federal judge, a former United States Attorney, and experienced securities lawyers.
Tags: class action, Kendall Law Group, Lawsuit, NOK, Nokia, Nokia Corporation, NYSE:NOK, shareholder
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Friday, February 5th, 2010
(DALLAS) Kendall Law Group fights for better deal for shareholders of Silicon Storage Technology, Inc. (NASDAQ: SSTI). The firm is concerned that proper consideration is not being paid to shareholders in the proposed acquisition by Microchip Technology Incorporated. If you are a shareholder of SSTI and would like additional information, contact Scott Kendall at 877-744-3728 or by email at skendall@kendalllawgroup.com.
On February 3, 2010, SSTI announced that they had entered into an agreement to be acquired by Microchip in a $284 million transaction. According to this agreement, shareholders will receive $2.85 in cash per SSTI share owned, only 6% over the $2.69 closing price before the deal was announced. This news follows the recent termination of a merger agreement with Technology Resources Holdings, Inc. that was entered into on November 13, 2009 and ended on February 2, 2010 with a $4,025,875 termination fee paid by SSTI. Due to the two recent transactions, neither of which providing fair compensation to the shareholders, the firm is concerned that the Board of Directors may have breached their fiduciary duties by not properly shopping the Company before entering into the agreement.
Kendall Law Group, founded by former federal judge Joe Kendall, has been counsel in dozens of merger and acquisition cases nationwide, including some of the largest transactions in the United States. If you are a shareholder of SSTI and would like to give or receive additional information, contact Scott Kendall at 877-744-3728 or by email at skendall@kendalllawgroup.com.
Tags: acquisition, Kendall Law Group, Merger, Microchip Technology Incorporated, NASDAQ:SSTI, Shareholder Lawsuit, Silicon Storage Technology Inc, SST, SSTI
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Friday, February 5th, 2010
(DALLAS) Shareholders of Airgas Inc. (NYSE: ARG) are urged to contact Kendall Law Group regarding a potential lawsuit in connection with the attempt to sell Airgas to competitor Air Products Chemicals Inc. The firm is concerned about the consideration and process chosen by the Board of Directors. If you are a shareholder of ARG and would like additional information about your rights in this proposed transaction, contact Scott Kendall at 877-744-3728 or by email at skendall@kendalllawgroup.com.
On February 5, 2010, Air Products announced that it had made a bid to purchase Airgas in a $7 billion transaction, including the assumption of $1.9 billion in debt. According to the agreement, Air Products will pay $60 per ARG share owned, representing a 38% premium over the $43.53 closing price on February 4, 2010. However, ARG shares closed over $50 as recently as late October, 2010.
Kendall Law Group, led by a former federal judge, has substantial experience representing investors in mergers and acquisitions nationwide. If you are a shareholder of ARG and would like to give or receive additional information, contact Scott Kendall at 877-744-3728 or by email at skendall@kendalllawgroup.com.
Tags: Air Products Chemical Inc, Airgas Inc., ARG, Kendall Law Group, Lawsuit, NYSE:ARG, shareholder
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Wednesday, February 3rd, 2010
(DALLAS) Kendall Law Group, led by a former federal judge, today announced that a lawsuit has been filed against State Street Corporation (NYSE: STT) alleging securities violations related to public statements made by the company between October 17, 2006 and October 19, 2009.
The complaint, filed in the District of Massachusetts, alleges that State Street and certain officers violated the federal securities laws for misleading statements made concerning their scheme to substantially mark up foreign currency trades. According to the complaint, the alleged scheme caused clients to overpay for foreign trades and allowed State Street to reap illegal profits. These illegal profits caused the Company’s financial results to be materially inflated. The complaint also alleges that State Street’s financial results were not prepared in accordance with Generally Accepted Accounting Principles due to inadequate internal and financial controls.
Edmund Brown, Jr., California Attorney General, announced on October 20, 2009 that he had filed suit against State Street for “unconscionable fraud” against California’s two largest pension funds. The suit also alleges that State Street was illegally overcharging the pension funds for the costs of executing foreign currency trades since 2001. On this announcement, stock prices dropped nearly 8.5% closing at $47.84 on October 20, 2009.
Any shareholder, who purchased State Street stock during the above time period, may move the Court to serve as a plaintiff in this class action. If you wish to serve as lead plaintiff, you must move the Court for appointment by February 16, 2010. A lead plaintiff is a class member who acts on behalf of other class members in directing the litigation. Your ability to share in any recovery is not, affected by the decision to serve as a lead plaintiff.
Led by a former federal judge and former U.S. Attorney, Kendall Law Group has the credentials to pursue any type of complex securities litigation in the nation. If you wish to learn more about your rights as a shareholder or have information concerning this action, contact attorney Hamilton Lindley at 877-744-3728 or hlindley@kendalllawgroup.com.
Tags: class action, Kendall Law Group, NYSE: STT, Securities Violdations, shareholder, State Street Corporation
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Tuesday, February 2nd, 2010
(DALLAS) Kendall Law Group, founded by a former federal judge, is investigating the proposed acquisition of COMSYS IT Partners, Inc. (NASDAQ: CITP) by Manpower Inc. in a $431 million transaction expected to close mid-March 2010. The investigation concerns whether the consideration to be paid to shareholders in this transaction is unfair and substantially below the fair or inherent value of the company. Also, the investigation will focus on whether the Board of Directors of COMSYS may have breached their fiduciary duties by not adequately shopping the Company before entering into the transaction.
Manpower announced today that they have entered into an agreement to acquire COMSYS, which has already been approved by board of directors for both companies. According to the agreement, shareholders will receive a value of $17.65 per share of COMSYS stock owned, which represents a 33% premium over the $13.23 closing price on February 1 before the agreement was announced. Shareholders will have the option to accept all cash or a fraction of Manpower stock.
If you are a current holder of CITP and would like additional information concerning this proposed transaction, including your rights, contact Hamilton Lindley at 877-744-3728 or by email at hlindley@kendalllawgroup.com. Kendall Law Group has substantial experience representing investors in mergers and acquisitions nationwide. Lawyers at the firm include a former United States Attorney, federal judicial law clerk, a former state and federal judge, in addition to experienced securities lawyers.
Tags: acquisition, COMSYS IT Partners Inc., Kendall Law Group, Manpower Inc, shareholder
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Tuesday, February 2nd, 2010
Kendall Law Group, led by a former federal judge, updates shareholders of its investigation for potential securities law violations of Toyota Motor Corporation (NYSE: TM). As a result of the recent recall announcements, Toyota stock plummeted 14 percent, wiping out $21 billion in market value in just one week.
From July 23, 2009 to January 29, 2010, Toyota failed to disclose that there was a major design defect in its acceleration system. Instead, the company blamed the problem on faulty floor mats. It was not until January 26 that Toyota finally revealed that it was immediately halting the sale and production of eight models because of the acceleration system defect. As a result of this announcement, Toyota’s shares plunged $7.01 to close at $79.77. When further European recalls were announced, the stock fell to $77.00 per share.
Former federal Judge Joe Kendall stated “While Toyota has found a solution to repair the recalled vehicles, we are still concerned about the damage to the reputation of Toyota that continues to affect stock prices.” Today, the executive in charge of quality control, Shinichi Sasaki, told reporters in Japan that Toyota expects slow sales in January as a result of the recall and that the scale of the recall “was a cause for worry.” He also stated that Toyota’s main concern was regaining the trust of their customers.
If you have any information about this issue or questions concerning your Toyota stock, you may contact attorney Hamilton Lindley at 877-744-3728 or by email at hlindley@kendalllawgroup.com. Kendall Law Group is led by a former federal judge experienced in recovering millions for defrauded shareholders. The firm includes a former United States Attorney, state judge, prosecutors, and securities lawyers who are experienced in complex securities litigation.
Tags: investigation, Kendall Law Group, NYSE: TM, Toyota, Toyota Motor Corporation
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Tuesday, February 2nd, 2010
(DALLAS) Kendall Law Group, founded by a former federal judge, continues its investigation of Koss Corporation (NASDAQ: KOSS) for shareholders who have purchased stock since June 30, 2005. The investigation for possible securities law violations is triggered by recent announcements made by Koss concerning its internal investigation for unauthorized financial transactions.
If you purchased Koss common stock during the relevant time period and have suffered a loss, you may have a claim against the company. For information about those claims, contact attorney Hamilton Lindley at 877-744-3728 or by email at hlindley@kendalllawgroup.com.
On December 24, 2009, Koss issued a press release announcing that Sujata Sachdeva, Secretary and Vice President of Finance, had been terminated due to the discovery of unauthorized financial transactions. Also, two other members of the company’s accounting staff were placed on unpaid administrative leave. The press release also stated that the 10-K for the fiscal years ended June 30, 2006 through 2009 and the Form 10-Q for the three months ended September 30, 2009 could not be relied on.
On January 4, 2010, the Company reported that the “Audit Committee had expanded the scope of the disclosed internal investigation of unauthorized financial transactions by Sujata Sachdeva, the Company’s former Vice President of Finance and Secretary, to include fiscal years 2005 through the present. This internal investigation caused the company to also state than the 10-K for the fiscal years ended June 30, 2005 should not be relied upon. Koss also reported that “Preliminary estimates indicate that the amount of unauthorized transactions since fiscal year 2005 through the present has exceeded $31 million, but at this point the Company and its advisors cannot assess the potential impact on its financial statements or identify the extent that specific fiscal periods may be affected.”
On January 20, 2010, a grand jury in Milwaukee returned an indictment against Sujata Sachdeva for six counts of wire fraud. Federal agents listed 461 boxes of shoes and 34 fur coats among thousands of items recovered from offices rented by Sachdeva.
Kendall Law Group has substantial experience representing investors in securities lawsuits nationwide. Lawyers at the firm include a former state and federal judge, a former United States Attorney, and experienced securities lawyers.
Tags: investigation, Kendall Law Group, Koss Corporation, NASDAQ: KOSS
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Tuesday, February 2nd, 2010
Kendall Law Group is investigating potential securities law violations for shareholders of Toyota Motor Corporation (NYSE: TM). The stock affected by the potential violations was purchased from August 4, 2009 to January 29, 2010.
During the above time period, Toyota failed to disclose that there was a major design defect in its acceleration system. Instead, the company blamed the defect on faulty floor mats. It was not until January 26 that Toyota finally revealed that it was immediately halting the sale and production of eight models because of the acceleration system defect. As a result of this announcement, Toyota’s shares plunged $7.01 to close at $79.77. When further European recalls were announced, the stock fell to $77.00 per share.
Kendall Law Group is led by a former federal judge experienced in recovering millions for defrauded shareholders. The firm includes a former United States Attorney, prosecutors, federal judicial law clerks, and securities lawyers who are experienced in complex securities litigation. If you have any information about this issue or questions concerning your Toyota stock purchased between August 4, 2009 and January 29, 2010, you may contact attorney Hamilton Lindley at 877-744-3728 or by email at hlindley@kendalllawgroup.com.
Tags: investigation, Kendall Law Group, NYSE: TM, shareholder, Toyota, Toyota Motor Corporation
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Tuesday, January 26th, 2010
(DALLAS) Kendall Law Group, led by a former federal judge, announces that a lawsuit has been filed against Motorola, Inc. (NYSE: MOT) alleging securities violations related to public statements made by the company between December 6, 2007 and January 22, 2008 concerning the RAZR2 mobile handheld.
Any shareholder who purchased Motorola stock during the above time period may move the Court to serve as a plaintiff in this class action. If you wish to serve as lead plaintiff, you must move the Court for appointment by March 22, 2010. A lead plaintiff is a class member who acts on behalf of other class members in directing the litigation. Your ability to share in any recovery is not, affected by the decision to serve as a lead plaintiff.
The complaint, filed in the Northern District of Illinois, charges Motorola and certain of its officers and directors with violations of the federal securities laws for intentionally and knowingly misstating the 2007 fourth quarter earnings projections and sales demands for the RAZR2 during the 2007 holiday shopping season. The RAZR2 was not attracting buyers in 2007 because it had not improved enough from the RAZR to earn the $299 price tag. Numerous positive statements were made by Defendants while Motorola was losing significant market share to competitors.
Motorola issued a press release on January 22, 2008 reporting their fourth quarter 2007 financial results. They also held an earnings conference later that day where the senior executives admitted that they knew the demand for the RAZR2 was lacking as early as Thanksgiving 2007. Motorola also downgraded their first quarter 2008 earnings guidance. On this news, Motorola common stock fell almost 19% to close at $10.01 per share on January 23, 2008.
If you wish to learn more about your rights as a shareholder or have information concerning this action, contact attorney Hamilton Lindley at 877-744-3728 or hlindley@kendalllawgroup.com. Kendall Law Group has the credentials to pursue any type of complex securities litigation in the nation.
Tags: class action, Kendall Law Group, Motorolla Inc, NYSE: MOT, shareholder
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Friday, January 22nd, 2010
(DALLAS) Kendall Law Group, founded by a former federal judge, is investigating the proposed acquisition of Lodgian, Inc. (NYSE: LGN) by an affiliate of Lone Star Real Estate Fund, L.P. The firm’s investigation concerns whether the consideration to be paid to shareholders in this transaction is unfair and substantially below the fair or inherent value of the company. Also, the investigation will focus on whether the Board of Directors of LGN may have breached their fiduciary duties by not adequately shopping the Company before entering into the transaction.
On January 22, 2010, the companies announced that they had entered into a merger agreement for Lone Star to acquire Lodgian in a $270 million transaction expected to close during the second quarter of 2010. According to the agreement, Lodgian shareholders will receive $2.50 cash per share, which represents a 40% premium over the closing price on January 21, 2010 before the deal was announced. The 52 week high for Lodgian was $3.20, closing at $2.00 as recently as November 2009
If you are a current holder of LGN and would like additional information concerning this proposed transaction, including your rights, contact Hamilton Lindley at 877-744-3728 or by email at hlindley@kendalllawgroup.com. Kendall Law Group has substantial experience representing investors in mergers and acquisitions nationwide. Lawyers at the firm include a former United States Attorney, federal judicial law clerk, a former state and federal judge, in addition to experienced securities lawyers.
Tags: acquisition, investigation, Kendall Law Group, Lodgian Inc, Lone Star Real Estate Fund L.P., NYSE: LGN, shareholder
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Friday, January 22nd, 2010
(DALLAS) Kendall Law Group, led by a former federal judge, today announced that a lawsuit has been filed against Motorola, Inc. (NYSE: MOT) alleging securities violations related to public statements made by the company between December 6, 2007 and January 22, 2008 concerning the RAZR2 mobile handheld.
Any shareholder, who purchased Motorola stock during the above time period, may move the Court to serve as a plaintiff in this class action. If you wish to serve as lead plaintiff, you must move the Court for appointment by March 22, 2010. A lead plaintiff is a class member who acts on behalf of other class members in directing the litigation. Your ability to share in any recovery is not, affected by the decision to serve as a lead plaintiff.
The complaint, filed in the Northern District of Illinois, charges Motorola and certain of its officers and directors with violations of the federal securities laws for intentionally and knowingly misstating the 2007 fourth quarter earnings projections and sales demands for the RAZR2 during the 2007 holiday shopping season. Despite that fact that the RAZR2 was not attracting buyers in 2007 because it had not improved enough from the RAZR to earn the $299 price tag, numerous positive statements were made by Defendants. Motorola was losing significant market share to competitors for similar mobile handhelds. The Company reported 900,000 RAZR2s sold between August 2007 and September 31, 2007, on track to sell a total of 1.5 million RAZR2 between October 1, 2007 and December 31, 2007. With this information, the senior executives knew that the Company was not on track to hit the $0.12-$0.14 profits that they had promised on December 6, 2007.
Motorola issued a press release on January 22, 2008 reporting their fourth quarter 2007 financial results. They also held an earnings conference later that day disclosing this information to investors. On the conference call, the senior executives admitted that they knew the demand for the RAZR2 was lacking as early as Thanksgiving 2007. Motorola also downgraded their first quarter 2008 earnings guidance. On this news, Motorola common stock fell almost 19% to close at $10.01 per share on January 23, 2008.
Led by a former federal judge and former U.S. Attorney, Kendall Law Group has the credentials to pursue any type of complex securities litigation in the nation. If you wish to learn more about your rights as a shareholder or have information concerning this action, contact attorney Hamilton Lindley at 877-744-3728 or hlindley@kendalllawgroup.com.
Tags: class action, Kendall Law Group, Motorola Inc, NYSE: MOT, shareholder
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Thursday, January 21st, 2010
(DALLAS) Kendall Law Group, led by a former federal judge, today announced that a lawsuit has been filed against Stryker Corporation (NYSE: SYK) alleging securities violations related to public statements made by the company between January 25, 2007 and November 13, 2008.
Any shareholder, who purchased Stryker stock during the above time period, may move the Court to serve as a plaintiff in this class action. If you wish to serve as lead plaintiff, you must move the Court for appointment by March 16, 2010. A lead plaintiff is a class member who acts on behalf of other class members in directing the litigation. Your ability to share in any recovery is not, affected by the decision to serve as a lead plaintiff.
The complaint, filed in the Southern District of New York, charges Stryker and certain of its officers and directors with violations of the federal securities laws regarding the Company’s financial condition due to a January 2008 hip product recall. The complaint alleges that defendants failed to comply with federal regulations regarding the manufacture of medical devices, which subjected the company to unnecessary risks of sales disruptions, lower revenues and product liabilities due to recalls. The complaint also alleges that Stryker hid hundreds of millions of dollars of additional compliance costs prior to and during the relevant period, which allowed defendants to falsely report more than 20% earnings growth for 2006 through 2008.
In an investor conference on November 13, 2009, Stryker indicated that it was still losing customers and revenues due to the January 2008 hip product recall. On this news, stock prices dropped 23%, closing at $36.11 on the November 20, 2008.
Led by a former federal judge and former U.S. Attorney, Kendall Law Group has the credentials to pursue any type of complex securities litigation in the nation. If you wish to learn more about your rights as a shareholder or have information concerning this action, contact attorney Hamilton Lindley at 877-744-3728 or hlindley@kendalllawgroup.com.
Tags: class action, Kendall Law Group, NYSE: SYK, shareholder, Stryker Corporation
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Wednesday, January 20th, 2010
(DALLAS) Kendall Law Group, founded by a former federal judge, is investigating the proposed tender offer of Bare Escentuals, Inc. (NASDAQ: BARE) by Japan-based Shiseido Co., Ltd. and Blush Acquisition Corporation.
The investigation focuses on the process employed by the Board of Directors in selling the company and whether they may be unlawfully benefiting from the transaction because key management will remain at the company following the buyout.
On January 14, 2010, Bare Escentuals announced that it has entered into a merger agreement with Shiseido. The $1.7 billion transaction is expected to commence within ten business days and close during the first quarter of 2010. According to the agreement, shareholders will receive $18.20 per share of BARE common stock owned. BARE closed as high as $14.78 in November, 2009.
If you are a current holder of BARE and have additional information regarding the proposed transaction, or would like to discuss your rights as a shareholder, contact Hamilton Lindley at 877-744-3728 or by email at hlindley@kendalllawgroup.com. Kendall Law Group has substantial experience representing investors in mergers and acquisitions nationwide. Lawyers at the firm include a former United States Attorney, federal judicial law clerk, a former state and federal judge, in addition to experienced securities lawyers.
Tags: Bare Escentuals Inc, Blush Acquisition Corportation, investigation, Kendall Law Group, NASDAQ: BARE, shareholder, Shiseido Co. Ltd
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Wednesday, January 20th, 2010
(DALLAS) Kendall Law Group, founded by a former federal judge, is investigating the proposed acquisition of Brink’s Home Security Holdings Inc. (NYSE: CFL) by Tyco International Ltd. The firm’s investigation seeks to determine whether the consideration to be paid to shareholders in this transaction is unfair and substantially below the fair or inherent value of the Brink’s. Also, the investigation will focus on whether the Board of Directors may have breached their fiduciary duties by not adequately shopping the Company before entering into the transaction.
On January 18, 2010, the companies announced that they had reached an agreement for Tyco to acquire Brink’s in a $2 billion transaction expected to close in the second half of its fiscal year, which began September 26, 2009. According to the agreement, shareholders will receive $42.50 per Brink’s share owned. Shareholders will have the option to receive all cash, cash and stock or all stock. This represents approximately 35% premium over the $31.42 closing price of Brink’s on the last trading day before the announcement.
If you are a current holder of CFL and would like additional information concerning this proposed transaction, including your rights, contact Hamilton Lindley at 877-744-3728 or by email at hlindley@kendalllawgroup.com. Kendall Law Group has substantial experience representing investors in mergers and acquisitions nationwide. Lawyers at the firm include a former United States Attorney, federal judicial law clerk, a former state and federal judge, in addition to experienced securities lawyers.
Tags: acquisition, Brink's Home Security Holdings Inc, investigation, Kendall Law Group, NYSE: CFL, shareholder, Tyco International Ltd
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Wednesday, January 20th, 2010
(DALLAS) Kendall Law Group, founded by a former federal judge, is investigating the proposed acquisition of Allied Defense Group Inc. (AMEX: ADG) by Chemring Group PLC to determine whether the consideration to be paid to shareholders in this transaction is unfair and substantially below the fair or inherent value of Allied. The firm is also investigating whether the Board of Directors may have breached their fiduciary duties by not adequately shopping the Company before entering into the transaction.
On January 19, 2010, Allied announced that they had reached an agreement for Chemring to acquire the Company in a $59 million transaction. According to the agreement, shareholders will receive $7.25 in cash per ADG share owned, which represents a 54% premium over the $4.71 closing price of Allied on the last trading day before the announcement.
If you are a current holder of ADG and would like additional information concerning this proposed transaction, including your rights, contact Hamilton Lindley at 877-744-3728 or by email at hlindley@kendalllawgroup.com. Kendall Law Group has substantial experience representing investors in mergers and acquisitions nationwide. Lawyers at the firm include a former United States Attorney, federal judicial law clerk, a former state and federal judge, in addition to experienced securities lawyers.
Tags: Allied Defense Group Inc, AMEX: ADG, Chemring Group PLC, investigation, Kendall Law Group, shareholder
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